CATL Tight-Lipped About Indonesia Battery Materials Venture

What’s new: Contemporary Amperex Technology Co. Ltd. (CATL) (300750.SZ) stayed mum about the progress of a $6 billion Indonesian mining-to-batteries project announced last year, after local media reports said the firm may finalize a deal this month for part of the project that involves electric vehicle (EV) battery materials production.

The Tesla Inc. supplier is expected to ink a joint venture agreement this month with local state-owned nickel and gold miner PT Aneka Tambang, also known as Antam, to produce raw materials for EV batteries, the Jakarta Post and CNBC Indonesia reported last week.